Principal Aims

To provide a more detailed discussion of the key issues in the theory and practice of financial markets, banking, monetary policy and, importantly, their interaction and to embed a strong practical and policy-related element.

Principal Learning Outcomes

Subject Knowledge and Understanding:...have a thorough and deep understanding of the nature of money and the role of money in the financial system, and describe the roles played by different financial assets in this system.

Subject Knowledge and Understanding:...possess theoretical understanding of the basis of, and empirical knowledge of the practice of, monetary policy and central banks.

Subject Knowledge and Understanding:...critically discuss and debate, using advanced concepts and knowledge of practice, a range of current monetary issues.

Subject-specific and Professional Key General Skills:...analyse and express advanced views about pertinent monetary and financial issues in a clear way orally and in writing.

Subject-specific and Professional Key General Skills:...conduct individual and collaborative research demonstrating ability to identify, understand and use optimal empirical resources, data and advanced research literature.

Subject-specific and Professional Key General Skills:...have a fluent command of the language of macroeconomics and, where relevant, its microeconomic foundations, and demonstrate ability to make advanced interpretations of monetary and financial policy in practice.

Subject-specific and Professional Key General Skills:...obtain official data on macroeconomic issues and use Excel, Stata, R, or other tools in advanced analysis of such data.

Cognitive Skills:...critically analyse the arguments of others, including advanced researchers and practitioners in the field, and learn to distinguish strong from weak arguments and fact from conjecture.

Cognitive Skills:...analyse complex issues using data as a guide; including the interpretation of data in the context of theoretical models, demonstrating ability to identify the best theoretical tools to use in the analysis.

Syllabus

Context

Optional Module

V7ML - Year 3, V7MM - Year 4, LA99 - Year 3, R9L1 - Year 4, R3L4 - Year 4, R4L1 - Year 4, R2L4 - Year 4, R1L4 - Year 4, L1L8 - Year 3

Pre or Co-requisites

Any of:

EC107-30 Economics 1

OR

EC108-30 Macroeconomics 1 AND

EC109-30 Microeconomics 1

OR

EC131-15 Economics for Business with a mark of 65% in the final examination plus either EC229 or EC204 as a co- or pre-requisite

Summary:

Modules: EC107-30 or EC136-15 or (EC108-30 and EC109-30) or EC131-15

Restrictions

May not be combined with modules PO391-30 or IB253-15 or EC230-15 or IB3J8-15

Assessment

Assessment Method

Coursework (20%) + In-person Examination (80%)

Coursework Details

Group presenation (20%) , In-person Examination (80%)

Exam Timing

Summer

Exam Rubric

Time Allowed: 2 Hours

Read all instructions carefully - and read through the entire paper at least once before you start entering your answers.

You are required to answer ALL questions on this paper. Questions 1, 2 and 3 are each worth 10 marks. Questions 4 and 5 are each worth 35 marks.

Answer each whole question in a separate booklet.

Approved scientific (non-graphical) pocket calculators are allowed.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.